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BREAKING NEWS

Private consumption a major growth driver in 2015

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Private consumption a major growth driver in 2015

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German retail sales have taken their largest leap in seven years fueling expectations of more growth this year for Europe’s leading economy.

They climbed by 2.9 percent month on month in real terms, the sharpest increase since January 2008.

The news helped push European shares higher on Tuesday.

Analysts say private consumption looks as if it will be a major growth driver in 2015.

Polls indicate that German consumer morale is at its highest level for more more than 13 years as shoppers benefit from record employment and higher pay.